DJ LATE BRIEFING – Companies and Markets
The evening market overview compiled by Dow Jones Newswires:
STOCK MARKETS (6:32 p.m.)
INDEX Stand +-% +-% YTD EuroStoxx50 3.806,74 -0,83% -11,44% Stoxx50 3.669,19 -0,24% -3,91% DAX 14.556,62 -0,66% -8,36% FTSE 7.602,05 -0,08% +3,03% CAC 6.500,35 -0,74% -9,12% DJIA 32.880,45 -0,11% -9,52% S&P-500 4.116,62 -0,12% -13,63% Nasdaq-Comp. 12.044,82 -0,14% -23,01% Nasdaq-100 12.582,40 -0,14% -22,90% Nikkei-225 27.943,95 +0,10% -2,94% EUREX Stand +-Ticks Bund-Future 149,34% +35
COMMODITY MARKETS
ROHÖL zuletzt VT-Settl. +/- % +/- USD % YTD WTI/Nymex 119,16 118,50 +0,6% 0,66 +63,7% Brent/ICE 120,24 119,51 +0,6% 0,73 +59,4% METALLE zuletzt Vortag +/- % +/- USD % YTD Gold (Spot) 1.852,75 1.841,47 +0,6% +11,28 +1,3% Silber (Spot) 22,23 22,08 +0,7% +0,15 -4,6% Platin (Spot) 1.013,65 1.022,00 -0,8% -8,35 +4,5% Kupfer-Future 4,42 4,44 -0,4% -0,02 -0,7%
FINANCIAL MARKET USA
The US stock exchanges make up for initial losses in the course of trading. Concerns about stagflation still dominate the market, but setbacks would also be used to re-enter. Sentiment was dampened by retailer Target’s profit warning and a bigger-than-expected interest rate hike in Australia. Target reduced their losses from initially more than 6 percent to 3.6 percent now. The retailer warned of declining results because, among other things, higher discounts are needed to sell goods. Traders see this as a clear sign of falling consumer spending. This notion weighs on other industry stocks as well: Walmart and Costco are down 2.1 and 1.4 percent, respectively, and Amazon is down 2.2 percent. The sector tops the list of losers at a 2.0 percent discount. Bucking the sector trend, Kohl’s are up 8.1 percent. The company is in advanced discussions for a sale. Peloton Interactive down 1.1 percent. The company is also changing its chief financial officer just four months after appointing a new CEO. Apple gain 0.8 percent. The US technology group wants to offer US customers the option to pay in installments.
OUTLOOK ECONOMY +
- US
22:30 Rohöllagerbestandsdaten (Woche) des privaten
American Petroleum Institute (API)
FINANCIAL MARKETS EUROPE
Concerns about inflation and interest rates weighed on prices again. The ECB is expected to take the first steps towards tightening monetary policy on Thursday. In Australia, the central bank surprisingly raised interest rates significantly and at the same time signaled that further tightening was imminent. A dampener also came from German incoming orders. Retail sales in Great Britain also developed weakly. And in the US, Target, the eighth largest retail chain, had issued a profit warning. Retail stocks lost 0.8 percent and interest rate-linked technology stocks lost 1.2 percent. Casino Guichard lost 4.1 percent. Reports stating that the supermarket chain was having trouble finding potential buyers for its renewable energy subsidiary weighed heavily on this. Consumption-related titles were also under pressure in the DAX because high inflation is eating away at consumer budgets. Adidas fell by 1.2 percent, the stock flies out of the Stoxx 50. Glencore, who move up, lost “only” 0.3 percent. Other commodity stocks were also more in demand: the index of raw and basic materials was at the top of the industries with a plus of 1.3 percent. SGL Carbon shot up around 11 percent – driven by an elevated outlook. Mediaset Espana (+2.0%) benefited from MFE-Mediaforeurope (-2.1%) raising the bid to take over all remaining shares. SAS collapsed by almost 14 percent. The Swedish government had said it was no longer willing to inject more capital.
DEVISEN
DEVISEN zuletzt +/- % Di, 9:44 Mo, 17:37 % YTD EUR/USD 1,0704 +0,1% 1,0687 1,0690 -5,9% EUR/JPY 141,93 +0,6% 141,86 140,66 +8,4% EUR/CHF 1,0415 +0,3% 1,0414 1,0358 +0,4% EUR/GBP 0,8499 -0,4% 0,8565 0,8531 +1,1% USD/JPY 132,58 +0,5% 132,75 131,58 +15,2% GBP/USD 1,2596 +0,5% 1,2477 1,2530 -6,9% USD/CNH (Offshore) 6,6736 +0,3% 6,6715 6,6573 +5,0% Bitcoin BTC/USD 29.790,15 -5,4% 29.546,90 31.298,10 -35,6%
The dollar sinks in the wake of falling US market interest rates, the dollar index falls by 0.1 percent.
FINANCIAL MARKETS EAST ASIA
No clear trend has emerged on the stock exchanges. The Sydney Stock Exchange recorded more significant losses. The Reserve Bank of Australia (RBA) hiked interest rates more than expected, showing determination to respond to the deteriorating inflation outlook. The key interest rate was raised by 50 basis points to 0.85 percent. All sectors in Sydney ended down, with technology, retail and banking stocks topping the list of losers. ANZ, Westpac, Commonwealth Bank and National Australia Bank shares were down between 1.5 and 3.3 percent. The papers of the payment service provider Zip collapsed by 14 percent and fell to their lowest level in 5 years. Tokyo’s Nikkei-225 gave back most of its premium in late trade. Here the weaker yen provided support. The dollar has climbed to a 20-year high against the Japanese currency. Above all, the export stocks showed gains. Nissan Motor shares rose 2.6 percent and Subaru rose 3.2 percent. The Shanghai Composite ended higher, continuing the positive trend of the previous day. The levies on car values prevented a more significant increase. SAIC Motor and Great Wall Motor fell by 2.4 and 3.5 percent respectively. In Seoul, the Kospi went down after the holiday break. Taxes in the technology sector had a negative impact here.
COMPANY NEWS SINCE 1.30 PM
Fresenius CEO: FMC sale by no means a done deal
For the Fresenius healthcare group, a partial or even complete sale of its dialysis subsidiary Fresenius Medical Care (FMC) is by no means a decided matter. This was made clear by the CEO of Fresenius SE & Co KGaA, Stephan Sturm, in an interview with the employee newspaper. It’s about making the best possible use of FMC’s growth opportunities – under our roof or by handing them over to new hands who may be even better at it than we are,” says Sturm. However, such a sale would have to be to the benefit of all stakeholders and should therefore be carefully considered.
Repsol reviews options for upstream business – division strategic
Spanish oil company Repsol is considering various options for its upstream business, but has yet to make a decision. “Repsol states that it views its exploration and production business as strategic, which includes its preservation and consolidation over the long term,” said Repsol. The Reuters news agency reported, citing unspecified sources, that Repsol is in early negotiations with US fund EIG Global Energy Partners to sell up to 25 percent of its upstream business.
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(END) Dow Jones Newswires
June 07, 2022 12:34 PM
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